Uber is seeking to sell around $10 billion worth of stock in its initial public offering (IPO), according to several reports. If that is true, the ride-hailing giant would be the biggest IPO of the year — and among the 10 largest of all time.
The company is expected to make public the registration of this offering on Thursday, said people familiar with the matter.
It is believed that most of the shares sold would be issued by the company, while a smaller portion would be owned by investors cashing out.
Uber plans to make its IPO registration with the US Securities and Exchange Commission publicly available later this week, and will kick of its investor roadshow during the week of April 29, putting it on track to price its IPO and begin trading on the New York Stock Exchange in early May, the sources said.
The company is seeking a valuation of between $90 billion and $100 billion after its smaller rival Lyft made its market debut last month, pricing its IPO at $72 a share and valuing the company at around $24 billion.
This year is shaping up to be a tech IPO bonanza, with market debuts expected from companies including Uber, Slack, Pinterest and Postmates.
It’s debut day for Lyft shares – will an IPO bonanza follow for Uber, others?
